Best Forex Brokers:Forex Wave analysis and forecast of 12.09 – 19.09.2014
EUR/USD Wave analysis and forecast of 12.09 – 19.09: European currency is under pressure. Downtrend continues.
Estimated pivot point is at the level of 1.3000.
Our opinion: Sell the pair from correction below the level of 1.3000 with the target of 1.27 – 1.26.
Alternative scenario: Breakout and consolidation above of the level of 1.30 will make the price continue the rise up to the levels of 1.31 – 1.3150, as part of the correction of the senior level.
Analysis: Presumably, the third wave (iii) is still being forms and within this wave extension of the impetus is being formed with the estimated target of completion at the level of 1.26. Locally it is likely that the fourth wave of the junior level iv of (iii) of iii is nearing completion. If this assumption is correct and if the price does not break down the critical level of 1.30, it makes sense to expect that the pair continues to decline to the levels of 1.27 – 1.26.
GBP/USD Wave analysis and forecast of 12.09 – 19.09: Correction is nearing completion. The pair is likely to continue the decline.
Estimated pivot point is at the level of 1.6350.
Our opinion: Sell the pair below the level of 1.6350 with the target of 1.58 – 1.57.
Alternative scenario: Breakout and consolidation above the level of 1.6350 will make the price continue the rise up to the levels of 1.64 – 1.65.
Analysis: Presumably, the formation of the downward impetus in the first wave of the deep medium-term correction continues. At the moment it is likely that the correction in the fourth wave is nearing completion. If this assumption is correct, the pair will continue to drop to the levels of 1.59 – 1.58.
USD/CHF Wave analysis and forecast of 12.09 – 19.09: The pair continue to grow.
Estimated pivot point is at the level of 0.9312.
Our opinion: Buy the pair from the correction above the level of 0.9312 with the target of 0.9440 – 0.95.
Alternative scenario: Breakout and consolidation below of the level of 0.9312 will make the pair continue the decline to 0.9250 – 0.92.
Analysis: The pair continues to grow and in view of the current wave pattern we can assume that the extension of the impetus in the third wave of the senior level iii is being formed. Locally, it is likely that the third wave of the junior level (iii) of iii is nearing completion and if this assumption is correct, the pair will continue to grow to the level of 0.95.
USD/JPY Wave analysis and forecast of 12.09 – 19.09: The pair is likely to rise.
Estimated pivot point is at the level of 106.30.
Our opinion: Buy the pair from correction above the level of 106.30 with the target of 108.0 – 108.60.
Alternative scenario: Breakout and consolidation of the price below the level of 106.30 will enable the pair to continue the decline to the levels of 105.0 – 104.0 as part of the correction.
Analysis: Presumably, the formation of the fifth wave of the “bullish” impetus continues on the weekly timeframe with the target level of 108.0. Locally it seems that the third wave of the junior level 3 of (5) is nearing completion. Within this wave the fifth wave of the junior level is extending. If this assumption is correct and the price does not break down the critical level of 106.30, the pair will continue to grow to the levels of 108.0 – 108.60.
USD/СAD Wave analysis and forecast of 12.09 – 19.09: Uptrend is resuming. The pair is likely to continue the rise.
Estimated pivot point is at the level of 1.0807.
Our opinion: Buy the pair from the correction above the level of 1.0807 with the target of 1.12.
Alternative scenario: Breakout and consolidation below the level of 1.0807 will make the pair continue the decline to the levels of 1.0750 – 1.07.
Analysis: Presumably, the formation of the downward correction as the wave ii has completed. Locally, it is likely that the third wave is being formed, within which one-two, one-two impetus (i) of iii has been formed. If this assumption is correct, after the completion of the local correction (ii), the pair will continue the rise up to the levels of 1.11 – 1.12.
